Oct 06, 2017

Frost & Sullivan Names Omnicell as Global Smart Hospitals’ Pharmacy Automation Vendor Company of the Year

Comprehensive and Unique Medication Management Solutions Recognized as Helping Hospitals Improve Patient Care and Financial Outcomes

Omnicell, Inc., a leading provider of medication and supply management automation, analytics software, and medication adherence solutions for healthcare organizations, today announced it has been named as the Frost & Sullivan 2017 Global Smart Hospitals’ Pharmacy Automation Vendor Company of the Year. Following a global independent, comprehensive evaluation of the vendor landscape, Frost & Sullivan analysts recognized Omnicell’s medication management portfolio, service offerings, customer satisfaction, and financial performance. The Company of the Year Award, part of Frost & Sullivan’s Best Practices Awards, is presented to the organization that demonstrates excellence in growth, innovation, and leadership, with superior performance in demand generation, brand development, and competitive positioning.

“During our global review process for considering vendors for our Best Practices Awards, we strive to identify the company that is addressing existing challenges through future-ready technologies that will adapt and grow with the market,” said Siddharth Shah, Frost & Sullivan Industry Analyst. “Omnicell’s comprehensive approach to medication management and customer loyalty and satisfaction were driving factors in our team’s decision. The combination of secure hardware with cloud-based software that arms hospital teams with decision-ready insights made Omnicell the clear leader in this category.”

Reimbursement trends, value-based care, and patient satisfaction expectations pose challenges to today’s hospitals. Healthcare institutions must balance reducing costs, improving quality of care and patient outcomes, and increasing overall efficiency. Frost & Sullivan’s analysis recognizes Omnicell’s success in helping customers use technology to navigate these challenges, citing its comprehensive product portfolio that spans the entire continuum of care and aligns with healthcare’s shift into the community. With hospital pharmacies and nursing, technology can make a dramatic impact on increasing efficiency, enabling clinicians to spend more time on patient care.

Omnicell approaches existing healthcare challenges with the goal of providing automation that requires minimal manual input. For example, Omnicell’s robotic system for IV compounding is less costly than outsourcing and provides hospital pharmacies with a fully automated process that delivers greater accuracy. Advanced interoperability between the Company’s medication dispensing system and leading electronic health record vendors reduces redundant tasks for front-line staff, thereby increasing employee satisfaction and patient safety. Technological solutions such as these, along with Omnicell’s commitment to customer experience and satisfaction, contributed to Frost & Sullivan’s decision.

“We’re honored to be recognized for our product innovation and commitment to our hospital, pharmacy, and non-acute care customers in the U.S. and internationally,” said Randall A. Lipps, chairman, president, CEO and founder of Omnicell. “Our goal has always been to enable providers to deliver better and more efficient care to patients—a balance that is becoming increasingly challenging for our hospital partners. We’re committed to developing products and services that ultimately help achieve this goal, and we continue to be inspired by our customer partners as we work with them to find the best solution to fit their needs.”

For the Company of the Year Award, Frost & Sullivan analysts independently evaluated two key factors: visionary innovation and performance and customer impact. For more information on this evaluation process, please view the complete Frost & Sullivan report here.

The 2017 Smart Hospitals’ Pharmacy Automation Vendor Company of the Year Award will be presented to Omnicell at the Excellence in Best Practices Awards Gala on January 24, 2018, in Anaheim, CA.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation, and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages more than 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 45 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

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